A. Grace is a hard working lady with a lot of vision. She is married with four children all in school. She is a tailor in Kirinya and has had a retail shop in the same area for six. She is able to make 30,000/= profit every day. Grace makes ladies traditional wear casual wear, children’s wear and school uniforms even while managing her retail shop. On top of these two businesses, Grace would like to join agriculture / farming since her husband is a civil servant and the money they make so far will not be enough to take their children through secondary and University levels of school. Grace needs a loan to be able to restock her retail shop with more goods to increase her income.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.